The universal card either could supplant or supplement the existing Clipper card, the regional fare card that can be used on Bay Area transit systems, including Muni, BART, Caltrain, AC Transit and the Golden Gate ferries. San Francisco would scrap its current pre-paid parking meter cards.

The plan calls for rolling out the city card in two years, and if it works with parking and taxis, the agency would consider extending it to Muni buses, streetcars and cable cars, said Sonali Bose, the Municipal Transportation Agency’s CFO.

The Clipper card is overseen by the regional Metropolitan Transportation Commission and is not set up to handle parking fees and taxi fares.

Muni looking at creating its own smart card.

Bose said the in-house card would give her agency more flexibility to set special discount fares for youth or higher fares for passengers who travel during the peak morning and evening commutes — should the agency decide to go that route.

No official word yet on how the Metropolitan Transportation Commission would feel about Muni, the Bay Area’s largest transit operation, putting its own smart card into circulation.